Common use of Property Damage Insurance Clause in Contracts

Property Damage Insurance. “Special Cause of Loss” property insurance on a replacement cost agreed amount basis insuring against loss or damage to Tenant’s Property as defined in Section 7.05. Such coverage shall not exclude the perils of sprinkler leakage, flood, earthquake, windstorm (named or unnamed), rupture of water pipes, earthquake and theft. This insurance shall cover the rents payable to Landlord in a twelve-month period basis as a result of business interruption. It shall include Landlord as a loss payee.

Property Damage Insurance. “Special Cause of Lossloss” property insurance on a replacement cost agreed amount basis insuring against loss or damage to Tenant’s Property as defined in Section 7.055.6. Such coverage shall not exclude the perils of sprinkler leakage, flood, earthquake, windstorm (named or unnamed), rupture of water pipes, earthquake and theft. This insurance shall cover the rents payable to Landlord in a twelve-twelve month period basis as a result of business interruption. It shall include Landlord as a loss payee.